Question

Shivam is manufacturing hair straightening flat irons and supplying them to various beauty salons across the city. Over the last few months he observed that the sale of flat irons has decreased drastically. He tried to find out the reason. He found that the hair experts have started recommending ceramic irons which are now being sold by competitors in the market. So, he also started manufacturing ceramic irons based on new technology with added features like curling, crimping, etc.

Identify the source of idea field used by Shivam:

Options

• Trading Related ideas

• Existing Products or Services-Based ideas

• Service Sector ideas

• Market Driven or Demand Driven ideas

Answer 1

Market Driven or Demand Driven ideas

Explanation:

The idea of joint agency is shown in this sentence. This means that each partner works for the company as both an agent and a principal. These words show that any partner can bind the company and the other partners through their actions in the business.